Krishnan & Associates
About
We focus on Tax Advisory, Consultation, and Resolution for Small to Midsize Business owners in addition to tax preparation. More importantly, we have plans that help support growth of start-up companies and utilize cutting edge technology and convenience of organizing documentation at your own business or home.
We love to help our clients make a huge difference and impact on their taxes and focus on quality and convenience rather than just quantity and cost of returns. We place a premium on quality of work and value of tax dollars and hours saved for business owners. Most importantly, we love to see businesses grow and to help them make a difference in the community they serve!
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Frequently asked questions
What is your typical process for working with a new customer?
The first step is scheduling a brief 15 minute initial phone consultation (free of charge). After the initial consultation with our focus on learning about the case and discovering any issues that arise based on conversation, then we would prepare a proposal based on client immediate needs and anticipated needs for the future to resolve a pending issue. Once we finalize needs for the specific moment and prioritize what is to be done, we would then do an engagement letter to formalize understanding, along with retainer to start the work. Once retainer is received, we would then start the onboarding process.
For New Business Returns, we have an average 14 Day turnaround period, while New Individual Tax Returns, we do have an average 7 Day turnaround period due to emphasis on quality of review and consultation time spent on returns.
What education and/or training do you have that relates to your work?
I am a CPA for almost a decade with also multiple licenses including Real Estate Broker and Life/Health Insurance license, which allows for me to also provide advice in those areas of expertise and specialize in tax & accounting advisory in those industries as well due to also my previous experience in those fields.
We also have rigorous continuing education requirements where we need to complete 84 hours every couple years at minimum.
Do you have a standard pricing system for your services? If so, please share the details here.
We price based on value, convenience, and quality of work, not cost. For those seeking lowest cost, we would not be a great fit.
Our average hourly fees are in the range of $375/hr (Individual) and $475/hr (Corporate), but if we have multiple engagements (more than 1 project to do per client), then we convert it into a flat-fee package.
We also offer our monthly plans such as the Startup Tax & Accounting Plans (available for those with gross revenues under $100K only) and Virtual CFO Plans for those business owners with Corporations needing ongoing tax and accounting advice with a strong accounting & financial system setup.
We also do Estate & Trust Tax Returns in which our minimum flat fees (if multiple engagement) are $1,500 and above.
How did you get started in this business?
It took many years of experience and education in various industries at corporate careers for me to start a business on my own, when I am driven by the passion in helping people grow through my expertise as a tax and accounting advisor. Furthermore, I constantly keep myself learning and growing, as life changes no matter what and doesn't stop for anyone.
What types of customers have you worked with?
Small to midsize business owners who have anywhere from 1-25 employees, solopreneurs, and those with 1099s. Ideally, we would like to work with those who have LLCs, LLPs, LPs, S-Corps, or Partnerships and are looking for ongoing advisory/strategy services with us.
Describe a recent event you are fond of.
We absolutely love to host tax and accounting educational forums for small business owners and we have done a recent one with our BNI group in Irvine Spectrum with a mission to educate and help owners to be aware of our industry updates and what we can do to resolve the most common issues we face today.
What advice would you give a customer looking to hire a pro in your area of expertise?
Key advice- look for someone who is credentialed as a CPA by verifying their credentials on CA Board of Accountancy. Second, look at Yelp or Google Reviews and make sure you are looking for someone who you see would be trustworthy and will take good care of you in terms of responsiveness, professionalism, and quality of work. Keep in mind, CPA's are not low in cost and may not be right for those on an extremely tight budget or those not willing to spend on one. There are major differences between CPA, tax preparers, and bookkeepers similar to doctors, nurses, and technicians. CPAs are the Doctors and focus on advisory, planning, coaching, and technical advice, whereas bookkeepers and tax preparers focus on the manual work being done with minimal to no advice given. If you have a budget to resolve your major tax or accounting issue, make sure you make room for this.
What questions should customers think through before talking to pros about their needs?
1) How does your onboarding process work for a new client?
2) How do I get my documents together in preparation to see you?
3) How much should I budget before seeing you?
4) How can I schedule an Initial Consultation with you?